Last $12.41 USD
Change Today -0.15 / -1.19%
Volume 1.1M
CUZ On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

cousins properties inc (CUZ) Snapshot

Open
$12.54
Previous Close
$12.56
Day High
$12.58
Day Low
$12.38
52 Week High
07/1/14 - $12.63
52 Week Low
08/19/13 - $9.59
Market Cap
2.5B
Average Volume 10 Days
1.7M
EPS TTM
$0.28
Shares Outstanding
198.4M
EX-Date
05/13/14
P/E TM
43.9x
Dividend
$0.30
Dividend Yield
1.93%
Current Stock Chart for COUSINS PROPERTIES INC (CUZ)

cousins properties inc (CUZ) Related Businessweek News

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cousins properties inc (CUZ) Details

Cousins Properties Incorporated, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, as well as performs certain real estate-related services in the United States. The company operates through four divisions: Office/Multi-Family, Retail, Industrial, and Land. The Office/Multi-Family division develops and manages office projects primarily in Austin, Dallas, Charlotte, Birmingham, and Atlanta; develops and sells multi-family projects in urban locations in the southeastern United States; and manages and leases office properties owned by third parties. It also develops mixed use projects that contain multiple product types in communities where individuals live, work, and seek entertainment. As of December 31, 2006, this division owned interests in 20 operating office properties; and had 5 office or multi-family projects under development or redevelopment. The Retail division develops and manages retail shopping centers principally in Georgia, Tennessee, North Carolina, Texas, and Florida. As of the above date, this division owned 10 operating retail properties; and had 3 projects and 1 expansion under development. The Industrial division develops institutional warehouse and distribution properties in the metropolitan Atlanta area and the Dallas market. As of December 31, 2006, this division owned one operating industrial property and three projects under development. The Land division engages in the acquisition and entitlement of land, the development and sale of residential lots, and the acquisition and sale of certain undeveloped tracts of land to third parties. As of the above date, this division had 24 residential communities under development. The company qualifies as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal corporate income taxes, if it distributes at least 90% of its taxable income to its stockholders. Cousins Properties was founded in 1958 and is based in Atlanta, Georgia.

237 Employees
Last Reported Date: 02/13/14
Founded in 1958

cousins properties inc (CUZ) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $600.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $390.0K
Executive Vice President
Total Annual Compensation: $341.5K
Senior Vice President
Total Annual Compensation: $294.2K
Chief Investment Officer and Senior Vice Pres...
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2013.

cousins properties inc (CUZ) Key Developments

Cousins Properties Incorporated Closes on New $500 Million Unsecured Credit Facility

Cousins Properties Incorporated announced it has closed on a new five-year, $500 million unsecured revolving credit facility which matures in May 2019. The new credit facility replaces the Company's existing $350 million facility, which was scheduled to mature in February 2016. The LIBOR borrowing spread on the new facility has been reduced to a range of 110-145 basis points from the previous range of 150-210 basis points, depending upon the company's leverage. Based upon the company's leverage as of March 31, 2014, the current spread over LIBOR under the new facility is 110 basis points. The new facility contains certain financial covenants that include the maintenance of an unencumbered interest coverage ratio of at least 2.00, a fixed charge coverage ratio of at least 1.50, and overall leverage of no more than 60%. J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and SunTrust Robinson Humphrey Inc. served as Joint Lead Arrangers and Joint Book Runners. JPMorgan Chase Bank, N.A. served as Syndication Agent. Bank of America, N.A. will serve as Administrative Agent. SunTrust Bank acted as Documentation Agent and Wells Fargo Bank, National Association, PNC Bank, National Association, U.S. Bank National Association, Morgan Stanley Senior Funding Inc. and Citizens Bank National Association acted as Co-Documentation Agents. Other lenders include the Northern Trust Company, First Tennessee Bank National Association and Atlantic Capital Bank.

Cousins Properties Incorporated Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2014

Cousins Properties Incorporated reported unaudited consolidated financial results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues of $81,723,000 compared to revenues of $38,262,000 for the same period a year ago. Loss from continuing operations before taxes, unconsolidated joint ventures, and sale of investment properties was $1,584,000 compared to $2,797,000 last year. Loss from continuing operations before gain on sale of investment properties was $286,000 compared to $1,146,000 last year. Loss from continuing operations was $125,000 compared to income from operations of $56,008,000 last year. Net income was $7,132,000 compared to $56,904,000 last year. Net income attributable to controlling interests was $6,977,000 compared to $56,397,000 last year. Net income available to common stockholders was $5,200,000 or $0.03 per basic and diluted share compared to $53,170,000 or $0.51 per basic and diluted share last year. Loss from continuing operations attributable to controlling interest was $0.01 per basic and diluted share compared to income from continuing operations attributable to controlling interest of $0.50 per basic and diluted share last year. Funds from operations were $36.2 million or $0.19 per share compared with $11.5 million or $0.11 per share last year. Total net operating income was $50,018,000 compared to $26,170,000 last year.

Cousins Properties Appoints Timothy O'connell as COO

Cousins Properties announced the appointment of Timothy A. O'Connell to the position of Chief Operating Officer as part of the company's aggressive growth strategy. O'Connell will collaborate with the President/CEO and management to develop corporate and operational strategies, and will facilitate those efforts across the company. In this role, he will provide leadership, management and vision necessary to ensure that the company has the proper operational controls, administrative and reporting procedures, and human capital in place to effectively grow the organization and ensure its financial strength and operational efficiency. O'Connell brings to Corporate Environments a wealth of professional experience that includes management positions with organizations such as PricewaterhouseCoopers and MetLife. Most recently, he served as Vice President for Cousins Properties Inc. providing exceptional leadership for both human resources and internal audit.

 

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CUZ

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Valuation CUZ Industry Range
Price/Earnings 51.6x
Price/Sales 9.4x
Price/Book 1.7x
Price/Cash Flow 14.4x
TEV/Sales 6.9x
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